Have you registered for PMSBY? Rs 2 lakh insurance in just Rs. 20...See full details here.

PMSBY Policy 2026: The central government is offering insurance worth Rs. 2 lakh for just ₹20. This benefit under the 'Pradhan Mantri Suraksha Bima Yojana' is directly linked to your bank account. Learn how you can avail yourself of this government safety net.

PMSBY Policy 2026: Pradhan Mantri Suraksha Bima Yojana 2026: The central government's schemes are proving to be game-changers in providing financial security to the common man and supporting families in times of unforeseen events. One such scheme is the 'Pradhan Mantri Suraksha Bima Yojana' (PMSBY), which is considered one of the cheapest insurance schemes in the world. For less than the price of a cup of tea, this scheme gives you coverage worth lakhs of rupees.

What's special about PMSBY?

The main objective of the Pradhan Mantri Suraksha Bima Yojana is to provide security to families who do not have the means to pay for expensive insurance premiums. The biggest feature of this scheme is its annual premium. You only have to spend Rs. 20 per year, which means the monthly expense is less than Rs. 2.

How much coverage and financial support does PMSBY provide?

Under this policy, financial assistance is provided in different circumstances:

If the insured person dies in an accident, their family (nominee) receives a lump sum of Rs. 2 lakh.
In case of disability due to an accident, assistance of Rs. 1-2 lakh is provided.
If the insured person suffers a minor disability in an accident, they are given compensation of Rs. 1 lakh.

Who can avail of the scheme?

Joining this government safety net is very easy; you just need to fulfil these conditions:

The applicant's age should be between 18 and 70 years.
Having a savings account is mandatory. The premium for this scheme is automatically debited from your account every year on May 31st, eliminating the worry of policy renewal.

Registration Process

You don't need to stand in long queues to join this scheme. You can become a part of it by filling out a simple form at your nearest bank branch or post office. Many banks now also offer the option to enrol through net banking and mobile apps. A copy of your Aadhaar card and bank passbook is mandatory with the application.